Market Assessment

NFTs Market Size and Growth

• The global NFT market was valued at $20.44 billion in 2022, emphasizing its current presence and potential.

• Future Growth:

  • The global NFT market is expected to grow at a compound annual growth rate (CAGR) of 34.2% from 2023 to 2030.

  • NFT market revenue is expected to reach $1.601 billion.

  • Revenue is expected to exhibit an annual growth rate of 18.55% (CAGR 2023-2027) through 2023, with total revenue expected to reach $3.162 billion by 2027.

  • The average revenue per user in the NFT market 2023 is $114.8.

Growth Drivers

This growth is driven by a variety of factors, including:

• Growing interest in digital art and collectibles

• Cryptocurrency and blockchain technology are growing in popularity

• Celebrities and other influencers increasingly adopt NFTs

• Expand use cases for NFTs beyond digital collectibles, such as gaming, real estate, and event ticketing

Discussion on CRAFT-I in The Cambodian Market.

• Partnering with Cambodian SMEs: CRAFT-I can partner with Cambodian SMEs to create and sell unique NFTs.

• Partnering with Cambodian businesses and organizations: CRAFT-I can partner with Cambodian businesses and organizations to promote its platform and reach more Cambodian SMEs.

• Web 3.0 education for Cambodian SMEs: CRAFT-I can provide Cambodian SMEs with education and training on Web 3.0 technology and how CRAFT-I platform helps them.

CRAFT-I has the potential to revolutionize Cambodia’s SME industry. By providing Cambodian SMEs with opportunities to reach a global audience and ensuring transparency and provenance, CRAFT-I can help Cambodian SMEs earn a fair living and promote Cambodian products to the world.